EUR/CAD – Pure technical play, expecting more downside movement.
Entry: Will wait for a move below 1.5050 to get short.
Stop Loss: Risking about 1% with about a 50 pip stop loss
Take Profit: 1.4750
Invalid: If the pair continues to move up back above 1.5150 area then I will sit on the sideline and look for a break of the 1.52 downward trend line .
With a weaker dollar I am expecting a continuation of the GBP strength to come back into play for early 2018. If the GU breaks through 1.3600 then I would expect it to continue to climb to the daily resistance of 1.38 a gain of about 300 pips. This could be fueled by less chaotic Brexit talks.
EUR/JPY 0.28% has clearly broken through resistance at the 134.93 area and is making a move to the upside partially fueled by a stronger Euro 0.52% as we saw EUR/USD 0.52% breach 1.20 on Friday 12/29 to make new highs. My target for the EUR/JPY 0.28% trade is 136.58 and will monitor from there.
EUR/JPY has clearly broken through resistance at the 134.93 area and is making a move to the upside partially fueled by a stronger Euro as we saw EUR/USD breach 1.20 on Friday 12/29 to make new highs. My target for the EUR/JPY trade is 136.58 and will monitor from there.
